Bruce Cole is currently under house arrest per an existing court order, and is subject to electronic monitor that only reveals when he enters and leaves his home. In a prepared release from the AG's office, it was revealed that "Cole is seeking to remove electronic monitoring from the conditions of his bond."

Koster, however, has stated that he is opposed to the removal, and, instead, will be asking that the courts "require that electronic monitoring [on Cole] be enhanced to include Global Positioning System (GPS) technology, allowing Cole's whereabouts to be tracked in real-time" in a 9 a.m. hearing on Monday, May 20, in St. Charles County Circuit Court.

"It is important that the best technology be utilized to ensure the defendant does not engage in activities beyond the scope of his house arrest," Koster said, "nor attemp to flee from having to answer the charges leveled in our criminal complaint."

Cole is currently awaiting trial on four counts of securities fraud and one count of felony theft for his part in the failed Mamtek project, and the company's non-payment on municipal bonds issued by the Industrial Development Authority of Moberly back in Aug. 2011. Cole is believed to have misrepresented secure bond funding and then diverted money intended for the project for personal use, including paying down a large chunk of the mortgage on his home in Beverly Hills, Calif.